Estonia

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After two years of recession and stagnation, Estonia’s economy is set to return to growth over the forecast horizon. The recovery will be supported by improving external demand, gradually strengthening household consumption, and the resilience of services and ICT. However, the pace is expected to remain modest, as weak confidence, high defence spending and persistent competitiveness challenges limit the outlook.
        FORECAST*
Main Economic Indicators202220232024202520262027
Population, 1000 persons134913701372...
GDP, real change in %-1.2-2.7-0.11.42.32.7
GDP per capita (EUR at PPP)302303058031710...
Gross industrial production, real change in %1.8-9.7-3.4...
Unemployment rate - LFS, in %, average5.66.47.67.67.16.8
Average gross monthly wages, EUR164518321981...
Consumer prices, % p.a.19.49.13.75.53.83.0
Fiscal balance in % of GDP-1.1-3.1-1.5-3.0-2.7-2.5
Public debt in % of GDP19.220.123.4...
Current account in % of GDP-3.1-1.2-1.2-1.2-1.7-1.2
FDI inflow, EUR m17834823-3205...
Gross external debt in % of GDP84.888.897.8...


Basic data are continuously updated.

* Forecasts are changed beginning of January, April, July and November.
See Press Conferences.

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Monthly Report No. 7-8/2025

Vasily Astrov, Alexandra Bykova, Selena Duraković, Meryem Gökten, Richard Grieveson, Maciej Grodzicki, Ioannis Gutzianas, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Dzmitry Kruk, Sebastian Leitner, Isilda Mara, Emilia Penkova-Pearson, Olga Pindyuk, Sandor Richter, Marko Sošić, Bernd Christoph Ströhm and Maryna Tverdostup
wiiw Monthly Report No. 7-8, July-August 2025
38 pages including 5 Tables and 3 Figures

Details

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Executive summary

Olga Pindyuk
in: The Crisis is Over, but its Scarring Effects are Hindering Recovery
wiiw Forecast Report No. Spring 2024, April 2024 , pp. I-VII
Details


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